Income & Wealth

    The Institute strongly supports collecting data and generating better theories about income and wealth. We use a multidisciplinary approach, casting a wide net to better understand these issues which sit at the heart of contemporary economics.

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    Household Income, Demand, and Saving: Deriving Macro Data with Micro Data Concepts

    We develop adjustments to align the NIPA measures of key household flows with cash flow concepts that better reflect household budgets and demand. Read more

    Kapital for the Twenty-First Century?

    What is “capital”? To Karl Marx, it was a social, political, and legal category—the means of control of the means of production by the dominant class. Capital could be money, it could be machines; it could be fixed and it could be variable. But the essence of capital was neither physical nor financial. It was the power that capital gave to capitalists, namely the authority to make decisions and to extract surplus from the worker. Read more